EuroDry (NASDAQ:EDRY) Director Panagiotis Kyriakopoulos Sells 2,067 Shares of Company Stock

EuroDry (NASDAQ:EDRY) Director Panagiotis Kyriakopoulos sold 2,067 shares of the firm’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $43.80, for a total value of $90,534.60. Following the completion of the sale, the director owned 8,400 shares in the company, valued at approximately $367,920. This represents a 19.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

EuroDry Stock Up 1.2%

Shares of NASDAQ EDRY opened at $45.53 on Wednesday. The business has a 50-day moving average of $53.68 and a two-hundred day moving average of $29.14. EuroDry has a 1 year low of $12.09 and a 1 year high of $73.07.

EuroDry (NASDAQ:EDRY) last released its quarterly earnings data on Thursday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $1.21. The business had revenue of $17.70 million for the quarter, compared to analyst estimates of $17.86 million. Equities research analysts anticipate that EuroDry will post 5.77 EPS for the current fiscal year.

Institutional Investors Weigh In On EuroDry

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sowell Financial Services LLC purchased a new position in shares of EuroDry during the third quarter worth about $592,000. MassMutual Private Wealth & Trust FSB acquired a new stake in shares of EuroDry during the third quarter worth about $32,000. BlackRock Inc. acquired a new stake in shares of EuroDry during the second quarter worth about $47,000. Finally, Renaissance Technologies LLC increased its position in shares of EuroDry by 53.6% during the first quarter. Renaissance Technologies LLC now owns 60,347 shares of the company’s stock worth $1,189,000 after purchasing an additional 21,047 shares in the last quarter. 2.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of EuroDry in a report on Friday, August 21st. Alliance Global Partners reiterated a “buy” rating on shares of EuroDry in a research note on Friday, August 7th. Finally, Zacks Research cut shares of EuroDry from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.50.

About EuroDry

EuroDry Ltd. (NASDAQ: EDRY) is a dry bulk shipping company that owns and operates vessels used to transport a range of essential commodities. Its cargoes may include iron ore, grain, coal, steel products, forest products and other dry bulk materials.

The company’s fleet has primarily consisted of smaller dry bulk vessels, including Handy-size and Supramax-class ships. These vessels serve international trade routes and are employed through time charters, voyage charters and other commercial arrangements, depending on market conditions and customer requirements.

EuroDry was established in 1997 and is managed from offices in Athens, Greece.